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Wages rising ahead of prices

New figures out today show that wages have risen again, ahead of prices for 19 consecutive months, with average weekly earnings for employees increased by 3.8 per cent compared with a year earlier – growing by 2.0 per cent after adjusting for inflation.

The data from the Office for National Statistics also show a near-record employment rate of 75.9 per cent, which is up 5.7 points since 2010, and an unemployment rate of 3.9 per cent, which has more than halved since 2010.

Damian said:

"It's good to see latest numbers today, with wage rises outstripping inflation for yet another month. This is good news for working people across the country and demonstrates the strength of the UK economy."